ams-OSRAM (AMSSY)
OTHER OTC:AMSSY
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ams-OSRAM
(OTC:AMSSY)
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Rating:49Neutral
Price Target:
$10.50
▲(102.31% Upside)
Action:ReiteratedDate:05/09/26
The score is held down primarily by weak financial performance (steep revenue contraction, ongoing net losses, and high leverage), with valuation also constrained by loss-making earnings (negative P/E). These negatives are partially offset by strong technical momentum and a generally positive earnings-call update on liquidity, cost savings, and execution—tempered by guidance that 2026 free cash flow will be materially negative excluding divestment proceeds.
Positive Factors
Improving cash generation & strong liquidity
Positive operating cash flow and a large liquidity buffer provide durable financial flexibility. Covered maturities and pro‑forma cash reduce near‑term refinancing pressure, enable disciplined capex and restructuring spend, and give time to convert design wins into serial production without immediate funding stress.
Negative Factors
Elevated leverage and weak equity base
High leverage amid ongoing net losses limits strategic optionality and raises refinancing vulnerability. Even with ample liquidity today, sustained elevated debt burdens increase interest costs, constrain capital allocation, and make the company reliant on disposals or outsized cash generation to materially de‑lever over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving cash generation & strong liquidity
Positive operating cash flow and a large liquidity buffer provide durable financial flexibility. Covered maturities and pro‑forma cash reduce near‑term refinancing pressure, enable disciplined capex and restructuring spend, and give time to convert design wins into serial production without immediate funding stress.
Read all positive factors
ams-OSRAM (AMSSY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.17B
Dividend YieldN/A
Average Volume (3M)25.00
Price to Earnings (P/E)―
Beta (1Y)2.15
Revenue Growth4.66%
EPS Growth-41.68%
CountryUS
Employees19,700
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.96
Shares Outstanding199,688,780
10 Day Avg. Volume0
30 Day Avg. Volume25
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.92
Price to Sales (P/S)0.26
P/FCF Ratio22.80
Enterprise Value/Market Cap1.34
Enterprise Value/Revenue0.88
Enterprise Value/Gross Profit3.53
Enterprise Value/Ebitda5.58
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
ams-OSRAM Business Overview & Revenue Model
Company Description
ams-OSRAM AG designs, manufactures, and sells LED and optical sensor solutions in Europe, the Middle East, Africa, the Americas, and the Asia/Pacific. The company operates through Semiconductor and Lamps & Systems segments. The Semiconductor segme...
How the Company Makes Money
ams-OSRAM primarily makes money by selling semiconductor and photonics products (components and, in some cases, modules) to original equipment manufacturers (OEMs) and their suppliers, with revenue recognized from product shipments under supply ag...
ams-OSRAM Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call presents a broadly positive operational and strategic update: the company beat Q1 guidance, delivered like‑for‑like semiconductor growth (+9% YoY), secured strong design wins (~EUR 850m), demonstrated progress on Digital Photonics (AR and AI photonics), achieved large cost savings (EUR 237m) and maintained strong liquidity (EUR 1.3bn cash, EUR 2.0bn available). Key near‑term negatives include FX headwinds (~EUR 15m), one‑off earnings and cash impacts from divestments and transformation (expected significant negative free cash flow in 2026 excluding disposals), margin pressures from input costs and price downs, and softer demand/competitive intensity in China. Overall the positives (growth, design wins, cash & liquidity coverage, material cost savings, strategic progress in high‑potential Digital Photonics) outweigh the manageable near‑term execution and market headwinds.Positive Updates
Strong Q1 Financial Performance
Group revenue of EUR 796 million (Q1 2026); adjusted EBITDA reached 16.5% (upper end of guidance). On a like‑for‑like / constant currency basis the group would have grown ~8% year‑on‑year; the semiconductor core portfolio grew 9% year‑on‑year like‑for‑like.
Negative Updates
Currency Headwinds Reduced Reported Revenue
Weaker U.S. dollar reduced reported top line by roughly EUR 15 million; group revenue declined slightly year‑on‑year on a reported basis but would have been ~+8% at constant currency.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Q1 Financial Performance
Group revenue of EUR 796 million (Q1 2026); adjusted EBITDA reached 16.5% (upper end of guidance). On a like‑for‑like / constant currency basis the group would have grown ~8% year‑on‑year; the semiconductor core portfolio grew 9% year‑on‑year like‑for‑like.
Read all positive updates
Company Guidance
For Q2 the company guided group revenues of EUR 725–825 million and adjusted EBITDA around 15.5% ±1.5 percentage points (assumed EUR/USD 1.17); the full‑year 2026 outlook remains unchanged with adjusted EBITDA ~15.5% ±1.5pp (EUR/USD 1.17) and group revenues “modestly softer” due to divestments and FX, and free cash flow expected above EUR 300 million including divestment proceeds. Management noted that excluding disposal proceeds 2026 cash flow is expected to be a triple‑digit million euro negative but that 2027 should return to positive free cash flow ex‑disposals; Q1 free cash flow was EUR 37 million (including EUR 90 million divestment proceeds), cash on hand stood at EUR 1.3 billion with EUR 2.0 billion available liquidity, and pro‑forma cash would be EUR 1.9 billion upon receiving the EUR 570 million Infineon proceeds (mid‑year). They reiterated near‑term maturities are fully covered, capex remains disciplined and below the full‑year guidance of ~8% of revenue, Re‑establish the Base delivered EUR 237 million savings, the new Simplify program targets EUR 200 million of additional annual savings by 2028 (with >90% measures at high maturity and EUR 5 million delivered in Q1) and carries over EUR 100 million+ of one‑off implementation costs.ams-OSRAM Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
33
Negative
Cash Flow
50
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.31B | 3.32B | 3.43B | 3.59B | 4.82B | 5.04B |
| Gross Profit | 828.04M | 848.00M | 857.00M | 1.02B | 1.26B | 1.44B |
| EBITDA | 523.39M | 693.00M | 462.00M | 471.00M | 855.00M | 938.00M |
| Net Income | -203.53M | -130.00M | -786.00M | -1.61B | -444.00M | -32.00M |
Balance Sheet | ||||||
| Total Assets | 6.54B | 6.81B | 6.90B | 7.40B | 8.83B | 9.64B |
| Cash, Cash Equivalents and Short-Term Investments | 1.40B | 1.56B | 1.12B | 1.18B | 1.11B | 1.34B |
| Total Debt | 57.06M | 2.69B | 2.69B | 2.67B | 3.02B | 3.40B |
| Total Liabilities | 5.70B | 5.86B | 5.67B | 5.50B | 6.00B | 6.49B |
| Stockholders Equity | 829.86M | 942.00M | 1.23B | 1.90B | 2.83B | 3.14B |
Cash Flow | ||||||
| Free Cash Flow | 25.11M | 38.00M | -67.00M | -375.00M | 62.00M | 482.00M |
| Operating Cash Flow | 227.00M | 237.00M | 435.00M | 674.00M | 599.00M | 792.00M |
| Investing Cash Flow | 364.46M | 299.00M | -424.00M | -826.00M | -183.00M | -560.00M |
| Financing Cash Flow | 163.50M | -97.00M | -98.00M | 245.00M | -726.00M | -534.00M |
ams-OSRAM Technical Analysis
Positive
5.19
Price Trends
5.57
Positive
5.26
Positive
6.02
Positive
Market Momentum
0.55
Negative
80.76
Negative
98.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMSSY, the sentiment is Positive. The current price of 5.19 is below the 20-day moving average (MA) of 5.91, below the 50-day MA of 5.57, and below the 200-day MA of 6.02, indicating a bullish trend. The MACD of 0.55 indicates Negative momentum. The RSI at 80.76 is Negative, neither overbought nor oversold. The STOCH value of 98.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMSSY.
ams-OSRAM Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $3.16B | 12.15 | 11.84% | ― | -0.06% | -1.01% | |
69 Neutral | $4.12B | 1,196.12 | -5.40% | ― | 40.91% | 74.24% | |
66 Neutral | $3.63B | -1,578.41 | 2.64% | ― | -7.71% | -66.03% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $4.25B | -14.43 | -32.99% | ― | -45.38% | -19.24% | |
59 Neutral | $3.03B | 56.38 | 4.96% | 4.48% | -8.01% | -44.59% | |
49 Neutral | $2.17B | -1.33 | -12.96% | ― | 4.66% | -41.68% |
* Technology Sector Average
AMSSY
ams-OSRAM
10.72
5.96
125.29%
HIMX
Himax Technologies
17.79
9.93
126.39%
PLAB
Photronics
53.64
33.03
160.26%
VECO
Veeco
59.42
38.37
182.28%
LASR
nLIGHT
73.91
61.43
492.23%
NVTS
Navitas Semiconductor
18.20
16.13
779.23%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.